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Overview
Kotak Fortune Maximiser is a limited-pay participating endowment plan designed to be customized as per your different objectives. This investment plan offers a choice of three life cover options: Life Goal Maximiser, Bright Future Maximiser, or Golden Years Maximiser. You'll even get multiple bonus payout options, allowing you to receive cash bonuses in a lump sum, regular installments, or purchase additional sum assured. With the Kotak Life Maximiser plan, you can pay premiums for 6, 8, 10, 12, or 15 years (PPT) and enjoy life cover until 85 years of age. With the Spouse Life Cover feature, you can add your spouse and get life coverage for two people under a single plan. Under this plan, females can avail a high sum assured with the same premium for Female Life.
Key Benefits of Kotak Fortune Maximiser Plan
- Get long-term life coverage until the age of 85 years.
- The plan offers a choice of three life cover options: Life Goal Maximiser, Bright Future Maximiser, or Golden Years Maximiser.
- The plan offers flexibility to choose a premium payment term for 6, 8, 10, 12, or 15 years (PPT).
- With Kotak Fortune Maximiser, females can avail a high sum assured with the same premium for Female Life.
- Grow your savings with a yearly cash bonus at the end of each financial year, if any is declared.
- The Spouse Life Cover feature offers coverage for both the husband and the wife under a single policy.
How to Buy Kotak Fortune Maximiser Plan from PolicyX.com
- Visit the official website of PolicyX.com.
- Click on the 'Investment' tab.
- A new page will appear on the screen.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of Kotak Fortune Maximiser Plan
There are various benefits to buying the Kotak Fortune Maximiser Plan. Let's understand each of them in detail:
- Death Benefit Under Spouse Cover: The Spouse Life Cover feature is applicable under all plan options and can only be availed while purchasing a policy. Upon the unfortunate death of the primary life insured or spouse during the policy term, the death benefit is payable.
- Maturity Benefit: If you survive till the end of the policy term and all due premiums are paid, the maturity benefit is payable.
- Cash Bonus - Immediate Payout: Under the Immediate Payout option, you can choose a cash bonus payout on a monthly or yearly basis. Under both monthly or annual options, the bonus will be payable starting from the end of the first policy year till the end of the policy term.
- Paid-Up Addition: With the Paid-Up Addition feature, the cash bonus will be used to purchase an additional sum assured in the form of paid-up additions at the end of the policy year. However, the paid-up additions shall be payable on death or maturity, whichever is earlier.
- Encashment of Paid-Up Additions: With the paid-up additions feature, you can exchange the paid-up additions for money when required. However, the remaining paid-up additions will continue to participate in future profits. Please note that the encashment feature is only available from the second policy year onwards till the end of the policy term.
- Enhanced Sum Assured for Female Life: Females who are the primary insured person in the policy will get an extra 1% added to their coverage amount. This benefit is not available to the spouse if spouse coverage is chosen.
Golden Years Maximiser
Under this option, the cash bonus will be used to purchase paid-up additions until the Life Insured turns 60 years old.
Paid-Up Additions
Under this option, you can use a cash bonus to buy additional sum assured in the form of paid-up additions during the policy term. However, the paid-up additions shall be payable on death or maturity.
Long-Term Coverage
Get long-term life coverage until the age of 85 years.
Three Life Cover Options
The plan offers a choice of three life cover options: Life Goal Maximiser, Bright Future Maximiser, or Golden Years Maximiser.
How to Buy Kotak Fortune Maximiser Plan from Kotak Investment Insurance
- Visit the official website of Kotak Investment Insurance.
- Hover over 'Investment Plans' from the top menu.
- Click on the 'Kotak Mahindra Fortune Maximiser Plan'.
- Click on 'Buy Now' and you will be redirected to a new page.
- Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
- Once discussed, you can make the premium payment and get the policy documents.
Exclusions
- Suicide within 12 months of the policy purchase is not covered.
- Consumption of any intoxicants.
- Death due to any aviation accident.
- Death due to any adventurous sports.
Documents Required to Buy Kotak Fortune Maximiser Plan
Here is the list of documents required to buy the Kotak Fortune Maximiser Plan:
- Photo ID Proof: Passport, Aadhaar card, PAN card, Driving license (any one).
- Age Proof: Passport, Aadhaar card, PAN card, Driving license (any one).
- Address Proof: Utility bill, passport, voter ID, ration card (any one).
- Medical Records: Medical records of the policyholder if requested.
- Income Proof: Bank statement, last three months' salary slips (if you are salaried) (any one).
Plan At a Glance
| What's Good Here | What's Missing |
|---|---|
| Coverage till 85 years | Guaranteed Additions |
| Multiple Plan Options | No High Sum Assured Rebate |
| Choice of Bonus Payout | No Auto Cover Continuance |
| Spouse Life Cover | Whole Life Cover |
| Encashment of Paid-Up Additions Feature | Large Premium Boost Discounts |
In a Nutshell
Kotak Fortune Maximiser is a limited-pay participating endowment plan that offers a choice of three life cover options. In this plan, you'll even get multiple bonus payout options, and the Spouse Life Cover feature allows you to add life coverage for two people under a single plan. For further assistance, you can reach out to us at PolicyX.com.
